AZ SB1312

Establishes a state-owned bank task force within the Arizona commerce authority with members appointed by the chief executive officer, including representatives from financial institutions, state agencies, universities, and advocacy organizations.

Task force is chaired by the superintendent of financial institutions and shall explore and evaluate the feasibility of establishing a state-owned bank, including reviewing the Bank of North Dakota, Massachusetts studies, models in other states, and economic impacts.

Requires task force to evaluate capital requirements, initial capitalization options, operating costs, projected revenues, applicable laws and statutes, and potential constitutional amendments necessary for a state-owned bank.

Task force must also consider alternative programs or options including community development financial institutions, SBA loans, agricultural loan programs, and clean energy investment authorities that could serve similar purposes.

Task force shall submit findings and recommendations to the governor and legislature by December 1, 2018, and the task force is repealed on September 30, 2019.